The AB Engineering (Pvt) Ltd has launched its new product a 70cc "Laser Motorcycle" on Monday at a ceremony held at a local hotel. Speaking on the occasion, the Chief Executive Officer of AB Engineering Haider Ali Naqvi said that the company while successfully acting as vendor of auto-parts for Toyota, Suzuki and Honda-brand vehicles were engaged for quite some time in manufacturing and assembly. He said that as a strategic plan the company entered into motorcycle manufacturing business and focused on technology transfer and maximum indigenisation of the product to meet the requirement of increased demand as a result of economical growth touching 8.30 percent.
Haider Naqvi said that AB Engineering was committed to provide high quality parts and motorcycles at affordable cost. "The company has invested Rs 100 million in its new business and purchased 20 acres of land already at Port Qasim Industrial Estate for future expansions," he added.
Director Project, Akbar Khan said that 82 percent locally-manufactured parts is being used in the 'Laser Motorcycle.' He said that soon 125 cc and 250 cc motorcycles would be introduced.
General Manager Sales, Ashraf Shaikh said that industrialisation in the country was on increase due to positive policies of the present government and the annul growth of industrial sector has touched the figure of 34 percent.
He said that more than 500,000 motorcycles would be manufactured in the current fiscal year in the country and after reduction in the prices would be affordable to many.
A representative of DFM Company China, Mr Lee also spoke on the occasion briefing about the technology being used in this new motorcycle. He expressed the hope that the launched motorcycle would fulfill requirements of the consumers in Pakistan.